The board of Africa’s largest mobile phone operator, MTN, should be in a position to announce the name of the group’s new CEO “within the next month or two”.
That’s the word from outgoing CEO Phuthuma Nhleko, who was speaking during question time at the presentation of the group’s interim financial results in Johannesburg on Thursday.
“It’s a matter of urgency, we do understand that,” Nhleko said in reply to a question from an investment analyst about whether there was any news on the succession plan. “We will deal with that in the next month or two.”
He said the board was “getting to the end” of the process. “We are aware that people want clarity.”
The board, which is led by chairman Cyril Ramaphosa, is managing the search for a replacement to Nhleko, under whose six-year watch MTN has generated hundreds of billions of rand in shareholder value.
Nhleko indicated earlier this year that he would step down by March 2011 to pursue other business interests. — Staff reporter, TechCentral